Page 376 - Finance News
Digital lending norms: Fintech firms seek clarity on RBI's FLDG stance
An FLDG is a lending model wherein a third-party guarantees to compensate up to a certain percentage of default in a loan portfolio of the regulated entity
 "Digital lending norms: Fintech firms seek clarity on RBI's FLDG stance")
IDBI Bank re-appoints S Jebaraj as deputy MD for 3 years effective Sept 20
Jebaraj handles verticals for large and mid-sized corporates, trade finance and NPA management and he has been a member of internal committees for more than a decade, said IDBI Bank
 "IDBI Bank re-appoints S Jebaraj as deputy MD for 3 years effective Sept 20")
HSBC Bank Mauritius sells 7% shares of V-Mart Retail for Rs 392 cr
On Monday, shares of V-Mart Retail settled 3.49 per cent lower at Rs 2,892.75 apiece on the BSE
 "HSBC Bank Mauritius sells 7% shares of V-Mart Retail for Rs 392 cr")
HDFC Bank, SBI AT-1 rates set to influence pricing of other issuances
The bonds will have a call option from the fifth year onwards and are rated AA+ by CRISIL, CARE and India Ratings, sources said
 "HDFC Bank, SBI AT-1 rates set to influence pricing of other issuances")
HDFC Bank targets nearly Rs 1-trillion deposit mop-up every quarter
In the recent roadshows, the bank's management sounded confident of its ability to deliver both loan growth as well as deposit growth, a report by Macquarie Research said on Monday
 "HDFC Bank targets nearly Rs 1-trillion deposit mop-up every quarter")
Banks, financial markets strong enough to withstand extreme volatility: Das
Going forward, our monetary policy will be watchful, nimble footed and calibrated, says RBI Governor
 "Banks, financial markets strong enough to withstand extreme volatility: Das")
Maharashtra state bank employees union protests govt loan melas
The federation's secretary, said in a statement the Congress government before "distributed hundreds of crores" by organising loan melas and now the present government is on the same lines
 "Maharashtra state bank employees union protests govt loan melas")
RBI imposes penalties on five co-operative banks for non-compliance
RBI said that the penalties are based on deficiencies in regulatory compliance & is not intended to pronounce upon the validity of any transaction entered into by the banks with their customers
 "RBI imposes penalties on five co-operative banks for non-compliance")
HDFC Bank, Precision Bio to test applications under RBI's sandbox scheme
The regulatory sandbox allows the regulator, innovators, financial service providers and customers to conduct field tests to collect evidence on the benefits and risks of new products and systems
NTT DATA Payment Services gets RBI nod for payment aggregator license
Payment service provider NTT DATA Payment Services India, earlier Atom Technologies, said it has received an in-principle approval from the RBI for the Payment Aggregator license
 "NTT DATA Payment Services gets RBI nod for payment aggregator license")
Bank union opposes public sector banks' 'loan melas' on NPA pile-up fears
Public sector banks are put into crisis through NPAs, and the same is used for pushing privatisation of the lenders, it said
 "Bank union opposes public sector banks' 'loan melas' on NPA pile-up fears")
CSB Bank to seek shareholders' nod to extend interim MD & CEO Mondal's term
He was appointed as the interim MD & CEO with effect from April 1, 2022 for a period of three months and further got an extension from July 1 till September 30
 "CSB Bank to seek shareholders' nod to extend interim MD & CEO Mondal's term")
Indiabulls Housing Finance to raise Rs 1,000 cr via public issue of bonds
The Issue will open for subscription on Monday, September 5 and closes on September 22
 "Indiabulls Housing Finance to raise Rs 1,000 cr via public issue of bonds")
SBI to raise up to Rs 7,000 cr via Basel-III AT1 bonds on Sept 11
Non convertible Taxable Perpetual Subordinated Unsecured Basel III compliant Additional Tier 1 Bonds in the nature of debentures of face value Rs 1 Crore each
 "SBI to raise up to Rs 7,000 cr via Basel-III AT1 bonds on Sept 11")
ICICI Bank to raise Rs 10,000 cr via infra bonds in one or more tranches
Proceeds to be used for project financing, affordable housing
 "ICICI Bank to raise Rs 10,000 cr via infra bonds in one or more tranches")
Krishnan Sankarasubramaniam takes over as Tamilnad Mercantile Bank MD & CEO
Prior to taking up the new role, Sankarasubramaniam was serving Punjab and Sind Bank as its Managing Director and CEO, a bank statement said here.
 "Krishnan Sankarasubramaniam takes over as Tamilnad Mercantile Bank MD & CEO")
CBDT issues refunds of over Rs 1.14 trillion between April to August
It also said that income tax refunds of Rs 61,252 crore have been issued in 19.6 million cases and corporate tax refunds of Rs 53,158 crore have been issued in 146,871 cases
 "CBDT issues refunds of over Rs 1.14 trillion between April to August")
What is a currency swap?
India has extended the duration of the $400 million currency swap facility extended to Sri Lanka, which is in dire straits. But what exactly is currency swap? This report offers an insight
 "What is a currency swap?")
'Think of the worst': RBI Governor Das nudges banks to raise capital
Referring to the RBI's foreign exchange reserves as the "solid backbone" of the economy, Das said they provided the firepower to maintain stability in the rupee despite global headwinds
 "'Think of the worst': RBI Governor Das nudges banks to raise capital")
YES Bank hikes interest rate on NRE, FCNR fixed deposits as norms are eased
RBI has taken several steps such as exempting banks from maintaining CRR and SLR on incremental NRE and FCNR (B) deposits, in order to attract dollars and protect the rupee
 "YES Bank hikes interest rate on NRE, FCNR fixed deposits as norms are eased")